Southpark Mall Strongsville, (Cleveland) Ohio One of the Best Established and Most Successful Centers in the Dynamic Cleveland
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SouthPark Mall SouthPark Mall Strongsville, (Cleveland) Ohio One of the best established and most successful centers in the dynamic Cleveland market, SouthPark Mall has changed along CLEVELAND, OH WESTLAKE, OH with the times – and continues to do so with the STRONGSVILLE, OH addition of The Commons in 2016. OBERLIN, OH A dominant center with something for everyone, AKRON, OH from department stores to dining to sporting 10 MILES goods to fashion, SouthPark is as durable and adaptable as its hometown name implies. It’s the center Clevelanders have loved for years – yet always something new. SouthPark Mall Strongsville, (Cleveland) Ohio • The epitome of the super-regional mall • Directly off Interstate 71, three miles from Interstate 80 • Largest collection of retailers in Northeast Ohio • Draws from Medina, Summit, Lorain, Wayne and Ashland Counties as well as Cuyahoga Property Description major roads I-71 & Highway 82 center description Enclosed, two-level center anchors Macy’s, Sears, JCPenney, Dillard’s, Kohl’s, total sf 1,650,000 Dick’s Sporting Goods, and Cinemark Theater # of stores 175 key tenants Williams-Sonoma, Francesca’s Collection, Chico’s, Loft, Soma, H&M, Charlotte Russe, PINK, Sephora, 7,800 # of parking Pandora, Banana Republic, and Hollister THE CENTER THE MARKET STARWOOD SouthPark Mall “Blends a bustling business community with small-town charm.” — City of Strongsville THE CENTER THE MARKET STARWOOD SouthPark Mall • Rare seven-anchor center combines fashion and everyday staples on two levels • Well-established mall for solid core of homeowners • The Commons at SouthPark expansion to debut 2016 • Home to new, in-demand specialty shops Defining Super-Regional Retail Combination of department store High traffic and visibility: 90,100 and specialty anchors allow one-stop vehicles daily on I-71 shopping Conversion of former supermarket to New retailers include: Francesca’s The Commons adds category-dominant Collection, H&M, Pandora, PINK, Sephora, tenants including DSW, Michael’s, Kid’s Foot Locker/Fly Zone, Zumiez and Core Restaurant Bar Louie THE CENTER THE MARKET STARWOOD SouthPark Mall EAST FACADE The open-air Commons at SouthPark adds category dominant retail and dining to the exciting mix. Date: 12.16.2014 DORSKY YUE INTE RNATIONAL LLC Project No: DY201421 © 2010 DORSKY YUE INTE RNATIONAL LLC ARCHITECTURE PROPOSED REDEVELOPMENT CLEVELAND FORT LAUDERDALE WASHINGTON D.C. Strongsville, Ohio Page P: 216.468.1850 P: 954.703.7830 P: 202.776.0400 F: 216.464.3610 F: 954.524.8604 F: 202.776.9347 Number 1 • Average Household Income of $93,300 in primary trade area projected to increase to $105,000 by 2021 • 34% of households earn more than $100,000 • 69,300 employees within five miles Where Cleveland Rocks and Rolls City of Strongsville has earned Moody’s Cleveland attracted nearly 17 million AAA rating tourists in 2014, up more than 4% year- over-year Named “must visit” travel destination by: New York Times, Los Angeles Times, 28 institutions of higher learning with Fodor’s Travel, Travel & Leisure more than 210,000 students New convention center saw 70 percent increase in room nights booked in 2014 THE CENTER THE MARKET STARWOOD SouthPark Mall • Strong Pro-Business Environment Primary Trade Area Average Household • Growing Conference Location Expenditures $2,603 on food away from home, 10% above US • Expanding Tourism Market $1,907 on apparel, 5% above US $1,066 on personal care • A Center of Education products and services, 16% above US $759 on home furnishings, 21% above US $1,000 on sports and recreation, 23% above US THE CENTER THE MARKET STARWOOD SouthPark Mall CLEVELAND Beachwood Place Crocker Park Distance to Competition I-71 Beachwood Place Driving – 32 mi, 37 min Great Northern Mall CLEVELAND HOPKINS Crocker Park INT’L AIRPORT PARMA Driving – 21 mi, 29 min MIDDLEBURG HEIGHTS Great Northern Mall Driving – 15 mi, 21 min Royalton Road/Route 82 Summit Mall 31,800 AADT SouthPark Mall Driving – 23 mi, 30 min 82 STRONGSVILLE Howe Road 16,000 AADT I-71 90,100 AADT Legend Primary Trade Area 42 Secondary Trade 24,200 AADT Summit Mall Area Competition Access Roads (AADT= annual average daily traffic) 3 MILES THE CENTER THE MARKET STARWOOD SouthPark Mall I-71 NASA Glenn Research Center Area Attractions Rock and Roll Hall of Fame GM Metal Fabrication 10 mi. & Museum 235,725 Greater Cleveland Aquarium 42 Southwest General Horseshoe Casino Health Center Cleveland Playhouse Square Daytime Employees 5 mi. 18,306 Strongsville Business & 69,280 Technology Park (largest industrial park in NE Ohio) 3 mi. Businesses 5,964 27,733 Colleges Cleveland Clinic - Strongsville Surgery Center 2,462 Baldwin Wallace University Cuyahoga Community 82 53,329 138,353 Residential Population 483,595 College $98,084 Combined Enrollment: 31,300 SouthPark Mall $87,464 Household Income Legend $78,078 42 Demographics I-71 Key Employers 3 MILES THE CENTER THE MARKET STARWOOD SouthPark Mall Demographics PTA1 STA2 TTA3 US Avg Population 2016 estimate 248,097 170,733 418,830 A Place to Work, A Place to Live 2021 projection 252,918 173,271 426,189 Major industries include fastest growing employment sectors: % growth 2016–2021 1.9% 1.5% 1.8% 3.7% Healthcare, Biotechnology, Automotive Population White 93% 92% 93% 71% Manufacturing, Banking, Education By Race Black 2% 2% 2% 13% 80% of trade area housing units are owner-occupied Asian 2% 3% 2% 5% $750M waterfront development with Hispanic Ethnicity 2% 3% 3% 18% residential, office, etc. continuing Median Age 43 44 43 38 development % age 15-24 13% 13% 13% 14% nuCLEus downtown development to includeresidential, office, retail and % age 25 to 44 23% 23% 23% 26% restaurant space % age 45 to 64 31% 29% 30% 26% Hotel boom includes Aloft, Westin, Households 2016 estimate 95,632 70,218 165,850 Hilton 2021 projection 98,126 71,453 169,579 “Distinctive neighborhoods, abundant shopping, 2,400 acres of green space, 2016 households with kids under 18 33% 28% 31% 34% excellent services, top-notch schools Average 2016 estimate $93,271 $82,069 $88,528 $77,135 and active civic groups” (City of Household Strongsville) % earning $100,000+ 34% 28% 32% 24% Income “[SouthPark], the newest enclosed mall 2021 projection $104,962 $92,250 $99,606 $83,619 in Cuyahoga County, is flourishing.” Education % college educated 63% 62% 63% 59% (Cleveland.com, May 2015) 1-MILE 3-MILE 5-MILE 10-MILE Business & business establishments 927 2,462 5,964 18,306 Employment daytime employment 9,920 27,733 69,280 235,725 1 Primary Trade Area 2 Secondary Trade Area 3 Total Trade Area THE CENTER THE MARKET STARWOOD SouthPark Mall Predominant Market Lifestyle Segments Accumulated Wealth—20% Conservative Classics—19% • Families & couples age 50+ • Upper-middle-class age 55+ • Upscale, college-educated • Childless singles and couples baby boomers • College-educated • Sprawling suburban homes • Enjoy comforts of home, • Disposable cash and gardening, reading, and sophisticated tastes entertaining • Enjoy top-of-the-line • Frequent patrons to electronics, sporting museums, the theater, and equipment, cars and casual-dining restaurants vacations Cautious Traditionalists—18% Affluent Empty Nesters—12% • Over 55 year-old mix of • Upscale couples age 45+ singles and couples with children • High rate of home ownership • College-educated holding • Fans of reading, home-based executive and professional hobbies and travel positions • Enjoy eating out at family • Disposable cash with active restaurants lifestyles • Pursue social activities and • Involved in the community entertainment outside the • Indulge in travel, cultural home events, and exercise equipment THE CENTER THE MARKET STARWOOD SouthPark Mall Starwood Retail Partners: A New Kind Of Owner For A New Generation Of Retail Starwood Retail Partners is not your father’s — or your grandfather’s — landlord. We’re acquiring, redeveloping, managing, leasing and operating the next generation of shopping centers for a new generation of shoppers: active, exciting community cores for an increasingly interconnected consumer. Owned by Starwood Capital Group, we’ve grown our portfolio to 30 centers in 16 states across the United States since our founding in 2012, working with top-tier investment firms to help finance our properties, and employing the talents and skills of the most creative professionals in the business to maximize their value. We build solid relationships and partner with our retailers to ensure that they are in the right property at the right time, with the right deal to support their success now and in the future. We invest in innovative technologies that help our properties become more productive, our stores more exciting and our shoppers more engaged. We understand that ultimately, as an owner, as an employer and as a citizen of our communities, it’s not about property, it’s about people. California Illinois North Carolina Metreon The Arboretum of South Barrington Northlake Mall Northridge Mall Chicago Ridge Mall Parkway Plaza Louis Joliet Mall Ohio Belden Village Mall Plaza West Covina The Promenade Bolingbrook / Senior Associate, Leasing / 614.256.7385 / Solano Town Center Franklin Park Mall Jake Miller Indiana Great Northern Mall [email protected] Colorado Southlake Mall SouthPark Mall Belmar Kentucky Texas Bryant Siragusa / National Director, Restaurants & Entertainment / Connecticut Hamburg Pavilion The Shops at Willow Bend 214.771.2003 / [email protected] Blue Back Square Michigan Virginia Florida Fairlane Town Center MacArthur Center Bill Cikalo / Director, Big Box Leasing & Development / 312.283.5121 / The Mall at Wellington Green The Mall at Partridge Creek Stony Point Fashion Park [email protected] Westland Mall Montana Washington Georgia Rimrock Mall Capital Mall Michael Powers / Vice President, Leasing - East / 312.242.3208 / The Collection at Forsyth Kitsap Mall [email protected] Nebraska Gateway Mall Ed Coury / Senior Vice President, Leasing / 312.242.3217 / [email protected] Sources: The Nielsen Company; State Department of Transportation; State and Local Economic Development Resources 11/07/16 Starwood Retail Partners 1 East Wacker Drive Suite 3600 Chicago, IL 60601 www.starwoodretail.com THE CENTER THE MARKET STARWOOD SouthPark Mall.